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The Wealth Dragon Way: The Why, the When and the How to Become Infinitely Wealthy by John Lee and Vincent Wong

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What is it that makes people without money look at people with money and feel resentful? Book suggests that it can show you ways to get money and firstly remove any negative connotations you may associate with this. Suggests you should become as rich as possible, then you have more control and ability to do more good.

Written by two UK based men who descended from Hong Kong and have established a property empire and a business selling the formula to help / helping people build their own. Aim is to get passive income and mentions the importance of undertaking hard work to achieve this. You don’t needs university degrees to succeed, but these can help. Take action, step outside your comfort zone.

Book refers to two types of wealth financial (money) and personal wealth (well-being).

Contains typical motivational stuff like fear is simply false evidence appearing real. Suggests that life is short therefore don’t be fearful, try to spend a whole day being fearless this experience can change your life forever.

We can suffocate from our obsession with what other people think of us. Half the time we are actually projecting our thoughts onto these people, interpreting their facial expressions wrongly, assuming we can read their minds. We should only be afraid of what is rational, what we actually know, not what we assume.

Suggests that we are mind washed and trapped into a Monday to Friday and that we shouldn’t rely on your state pension. Half of the book is this and same message as Rich Dad Poor Dad. Adds phrases like “Positive thinking and Positive work”. By chapter 11 actually starts to tell you what to do.

Firstly invest in yourself- you are your most important asset.  Infinite wealth is not an actual figure on a balance sheet or a static measure of net worth: It’s a state of mind . . . it’s the acceptance of financial abundance, which is the knowledge that there is no limit to how much wealth you can acquire, because you know you can keep on finding it and creating it.

When you find the best teacher, you must be prepared to pay for your education; don’t ask for it for free. Suggests people act as if they are being pushed into learning about building their wealth. If you don’t want to build your wealth, then don’t do it. If you want to build your wealth you will have to make sacrifices.

Contains a nice saying learn before you earn Once you feel you’ve gained enough knowledge and experience, you can take the L plates off and learn will become earn!

Property investors buy properties at below their market values so that they are already in profit on the day they close the deal! This is unlike a property speculator who is hoping value will go up over time or a property developer who does work on property hoping to make a profit.

Become a property investor – to do this look for property that is undervalued, property is unique in that you can also borrow money to invest with a mortgage, unlike stocks. You can try to force appreciation by renovating additional bedroom but if you purchase it below it’s worth you can immediately make money.  Main point is to deal with motivated sellers only, this is not the real estate agent who could siphon off the best deals themselves or banks, in part as a property that has been repossessed seemingly this goes on it’s record and reduces the value of the property slightly. Dealing with the seller gives you a lot more room for negotiation around the terms of the deal, the bank would only care about the money.  In essence if you can offer someone a solution to their problem directly you may get a good deal, this maybe quicker partial payment for them or an offer for them to rent the property from you.

Has wider general life tips with an example of helping someone who then avoiding paying rent, suggests the nicer you are to people, the more they will take advantage of you. Goes on to mention if you live in chaos, your business is bound to be in chaos. If you have a habit of cutting corners in one area of your life, you could easily unconsciously cut corners in another.

Everyone’s journey in life is unique. Evolution is progression. It’s all about taking what’s gone before and making it better. That’s the point of life, to keep improving, to keep growing and doing things better.  Will end on this saying – your network is your net worth.

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